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160 Scott Street Nw Atlanta, GA 30314

3 Beds 3 Baths 2,300 sqft Built 2020

$335,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $145.65
  • 6 Days on Market
  • MLS # : 6814517
  • Updated Date : 12/03/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,300 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Discover distinct city living in Atlanta’s vibrant Westside area, located in the booming Hunter Hills/Mozley Park neighborhood. Enjoy access to the Beltline, minutes to the airport, and a quick walk or bike ride to Quarry Yards, local eateries, top shopping, dining, and entertainment destinations. This unique new construction, contemporary home is designed with style and function in mind. This home offers luxury details with a spacious open floor plan. Grand professionally designed kitchen with custom wood cabinets, premium stainless steel appliances, an elegant

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MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)

PRICE & RENT TRENDS

Neighborhood: Hunter Hills

NeighborhoodNIR Market*CityMarket2010Year2000201940k60k80k100k120k140k160k180k200k220kPrice in $40k235k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Hunter Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q250060070080090010001100120013001400150016001700Rent in $4321714

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Frank Lebby Stanton Elementary School Primary Regular 280 27 2
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

Frank Lebby Stanton Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 27
2
GreatSchools Rating

Charles Lincoln Harper - Samuel Howard Archer Middle School

  • Education Level: Middle
  • # of students: 667
  • # of teachers: 46
1
GreatSchools Rating

Frederick Douglass High School

  • Education Level: High
  • # of students: 826
  • # of teachers: 66
2
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,236
Property Tax -$388
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$225

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$335,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 3.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,775

INVESTMENT

$90,775

Down Payment
$83,750
Rehab Estimate
$2,000
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,787

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,590

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,193

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,8003$2,1004$2,500
$2,500
RENT COMPS ANALYSIS
  • 160 Scott Street Nw Atlanta, GA 1
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.69
    •  
  • 1880 Joseph E Boone Boulevard Nw Atlanta, GA 2
    • 4 beds 4 baths ∙ 2,524 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,524 Sqft ∙ Built 2006
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
  • 32 Edwin Place Nw Atlanta, GA 3
    • 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 2005
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 874 Rochelle Drive Sw Atlanta, GA 4
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2019
    LEASED 07/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.25
    •  
PROPERTY LISTING DETAILS
Danielle Rudolph
1.770.870.8574
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6814517
Last Updated: 12/03/2020
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. © 2017 First Multiple Listing Service, Inc.

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